I know this has been asked before but I have some US cheques of little value $50 or so. I'm convinced the NatWest will charge impressively high fees if I deposit them. Can I technically purchase goods from the US and then send the cheques as payment if I endorse them to seller?
Thanks.
S.
You could sell them to these people:
Some? Many? Ask your bank how much they'll charge. If its earnings you have to pay tax on them.
Quite correct, if they are earnings you have to declare them for income tax whether you bank them in UK or sell them to a US entity or whatever.
Assuming the checks have little value you could find someone with a US account who will trade Sterling. They might want to wait to pay you until they know the check will clear. As they have income and expenses in both currencies they would be open to the transaction. Expect to pay a bit but likely a lot less than what the bank will want.
If you can not find someone you know that has a US account send me an email.
John Corey
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